this is my bearish trend idea. However wait for a fall back to a key level after trend continue to downtrend momentum, because overall structure breakout and continue to downtrend. You can see it high time frame momentum. Good luck
The pair has retested 20.50000 key level. We would like to see a rally towards 20.65000 level as indicated on the chart.
EURZAR has hit TP2 as explained earlier. Sustained closure above 20.5000 level takes us higher the levels towards 20.80000.
The pair has hit Take profit 1 as explained in my earlier posts about this set up. 20.50000 Key psychological level has been purged. Having seen a close above this level gives the bullish bias more preference going forward. 20.80000 level is open for testing in the upcoming sessions.
This is an update to the eurzar long post. The post was made pre-london session open. So far so good.
Seems like this pair has found meaningful support at the H4 uptrend low. The CPI rally has also been retraced. The exotic pair now aims to trade higher back to the psychological 20.50000 level.
This currency pair was going up respecting market structure but recently we saw the trendline being broken and lower structure points started to appear. An increase in volume could make price go lower quite agressively...
The pair cleared the equal highs as highlighted in the las analysis; The pair subsequently dropped to test the left shoulder of the inverted H&S. In this analysis i expect a rally back above 20.50000 psychological level.
Due to technical and fundamental reasons I see EUR getting stronger against the rand
This is the update to the previous post on EURZAR; 20.50000 taken out. TP at 20.60000
The pair has taken the 20.50000 key level after the strong bullish bounce off the wk1 uptrend low at 20.00000 key psychological level. In this set up i expect a rally towards 20.60000 level. Bearish retail sentiment might be a key driving factor towards these levels.
FX_IDC:ZAREUR South African Rand ⏰ Timeframe: 1 Week ♦───📝📊───♦ 👉🩸 Bullish Head and Shoulders (confirm incoming) 👉🩸 "M" Pattern (target 0,0455) 📢💎 Long Term 🤔 👉✅ Bullish Head and Shoulders (confirm incoming) ♦────⚖️────♦ ✔️ Logarithmic (Log) Chart ✔️Logarithmic (Log) Fibonacci
The waves have started overlapping, possibly indicating that the Bulls are running out of steam and anticipating a potential reversal at the previous resistance.
EURZAR has been exhibiting Ranging behaviour in a Channel recently. Upcoming News could trigger a breakout with strength if it doesn't fall through support prior to the release.
smc style..theres nothing to say here but as visable its a clear setup and we are looking for longs
Hope to buy EURZAR trade for higher high lower low situation.